Exelixis, Inc.

NasdaqGS:EXEL Stock Report

Market Cap: US$10.8b

Exelixis Valuation

Is EXEL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of EXEL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: EXEL ($42.37) is trading below our estimate of future cash flow value ($204.33)

Significantly Below Future Cash Flow Value: EXEL is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EXEL?

Key metric: As EXEL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EXEL. This is calculated by dividing EXEL's market cap by their current earnings.
What is EXEL's PE Ratio?
PE Ratio14.1x
EarningsUS$782.57m
Market CapUS$10.79b

Price to Earnings Ratio vs Peers

How does EXEL's PE Ratio compare to its peers?

The above table shows the PE ratio for EXEL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25.3x
BMRN BioMarin Pharmaceutical
33.6x28.77%US$11.8b
NBIX Neurocrine Biosciences
27.2x19.01%US$12.9b
HALO Halozyme Therapeutics
25.4x12.01%US$8.0b
INCY Incyte
15x-12.16%US$19.1b
EXEL Exelixis
14.1x11.31%US$10.8b

Price-To-Earnings vs Peers: EXEL is good value based on its Price-To-Earnings Ratio (14.1x) compared to the peer average (25.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does EXEL's PE Ratio compare vs other companies in the US Biotechs Industry?

10 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NVAX Novavax
3.9x-34.86%US$1.63b
RIGL Rigel Pharmaceuticals
1.4x-33.20%US$533.32m
ABEO Abeona Therapeutics
3.4x18.85%US$262.83m
KROS Keros Therapeutics
2.6x-29.15%US$222.81m
EXEL 14.1xIndustry Avg. 21.4xNo. of Companies10PE01632486480+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EXEL is good value based on its Price-To-Earnings Ratio (14.1x) compared to the US Biotechs industry average (21.4x).

Price to Earnings Ratio vs Fair Ratio

What is EXEL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EXEL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.1x
Fair PE Ratio21x

Price-To-Earnings vs Fair Ratio: EXEL is good value based on its Price-To-Earnings Ratio (14.1x) compared to the estimated Fair Price-To-Earnings Ratio (21x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EXEL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$42.37
US$46.83
+10.53%
14.56%US$60.00US$35.00n/a18
Mar ’27US$44.06
US$47.17
+7.05%
14.40%US$60.00US$35.00n/a18
Feb ’27US$41.36
US$45.78
+10.68%
15.46%US$60.00US$30.00n/a18
Jan ’27US$43.83
US$45.28
+3.30%
14.87%US$60.00US$30.00n/a18
Dec ’26US$43.43
US$44.94
+3.49%
14.31%US$60.00US$30.00n/a18
Nov ’26US$38.67
US$43.89
+13.51%
14.85%US$60.00US$30.00n/a19
Oct ’26US$41.20
US$44.26
+7.43%
14.23%US$60.00US$35.00n/a19
Sep ’26US$37.42
US$44.74
+19.55%
14.61%US$60.00US$36.00n/a19
Aug ’26US$37.26
US$45.11
+21.06%
15.05%US$60.00US$36.00n/a19
Jul ’26US$43.62
US$44.47
+1.96%
18.16%US$60.00US$29.00n/a19
Jun ’26US$43.04
US$40.89
-4.98%
15.69%US$56.00US$29.00n/a19
May ’26US$38.89
US$38.05
-2.15%
11.13%US$45.00US$29.00n/a19
Apr ’26US$36.39
US$37.06
+1.85%
14.14%US$45.00US$23.00n/a21
Mar ’26US$38.69
US$37.10
-4.10%
13.62%US$45.00US$23.00US$44.0623
Feb ’26US$33.15
US$35.93
+8.38%
14.67%US$43.00US$23.00US$41.3623
Jan ’26US$33.30
US$33.80
+1.50%
13.85%US$40.00US$23.00US$43.8323
Dec ’25US$36.46
US$32.41
-11.10%
14.00%US$39.00US$23.00US$43.4323
Nov ’25US$34.12
US$32.11
-5.89%
13.73%US$38.00US$23.00US$38.6722
Oct ’25US$26.30
US$27.60
+4.95%
14.24%US$34.36US$18.00US$41.2022
Sep ’25US$26.03
US$27.38
+5.18%
14.65%US$35.07US$18.00US$37.4221
Aug ’25US$24.22
US$26.59
+9.78%
15.67%US$35.07US$17.00US$37.2622
Jul ’25US$22.25
US$26.59
+19.50%
15.67%US$35.07US$17.00US$43.6222
Jun ’25US$21.69
US$26.59
+22.59%
15.67%US$35.07US$17.00US$43.0422
May ’25US$21.93
US$26.76
+22.04%
15.30%US$35.07US$17.00US$38.8922
Apr ’25US$23.68
US$26.63
+12.46%
14.57%US$32.35US$18.00US$36.3921
Mar ’25US$22.24
US$26.63
+19.74%
14.57%US$32.35US$18.00US$38.6921
US$46.83
Fair Value
9.5% undervalued intrinsic discount
18
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/09 17:27
End of Day Share Price 2026/03/09 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Exelixis, Inc. is covered by 41 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Etzer DaroutBarclays
Peter LawsonBarclays
Jason Matthew GerberryBofA Global Research